The Albanese government will consult the tech and start-up sector on capital gains tax (CGT) changes amid an online backlash.
This comes after AI-generated memes targeting Anthony Albanese circulated widely online, including images portraying him as a silent business partner sharing in the earnings of local companies.
The federal budget delivered on May 12 abolished the 50 percent CGT discount, replacing it with cost base indexation from July 1, 2027, and introducing a 30 percent minimum tax rate on gains.Many business owners have expressed concerns that they could be subject to tax rates of up to 47 percent when they sell their businesses.
